This might be a bit of a bad question, but I don’t know where to ask to get the least biased responses.
So, I have about $1.000 in Bitcoin that used to be $300 (I’ve put in about $1.500 in various shitcoins before getting those BTC)
I fly drones as a hobby and I was thinking of getting a new system for that amount of money.
Not true at all.
Microsoft has 7.4B stocks outstanding.
Microsoft has a valve as a company.
Owning 1 stock gets you 1/7.4Bth of the physical company.
If Microsoft goes bankrupt or dissolves you could get some value out of your share.
There are 19.9M BTCs
BTCs have no intrinsic value
Owning 1 BTC gets you 1 BTC
If BTC goes under you get nothing
The stock market does have artificially inflated/deflated prices but they are roughly based on a company’s value. The stock is backed by the company.
I agree with some of what you’ve said but not all
Bitcoin has intrinsic value because its simply more practical for society to collectively hallucinate that it’s valuable, because it allows for more trade. And at the same time, its deflationary, causing that collectively hallucinated value to increase over time. The only case in which Bitcoin could ever fall to zero would be in a 51% attack if the attacker chose to double spend a ton of coins, hyperinflation the currency - but that would never happen, because it would be super expensive, and because its not in the attackers economic interest, so it makes sense to rule out that scenario. This is arguably less likely than nuclear war.
I agree with some of what you’ve said but not all
bitcoin has intrinsic value because its simply more practice for society to collectively hallucinate that its valuable, because it allows for more trade. and at the same time, its deflationary, causing that collectively hallucinated value to increase over time. The only case in which Bitcoin could ever fall to zero would be in a 51% attack if the attacker chose to double spend a ton of coins, hyperinflation the currency - but that would never happen, because it would be super expensive, and because its not in the attackers economic interest, so it makes sense to rule out that scenario. its arguably less likely then nuclear war
I agree with some of what you’ve said but not all
Bitcoin has intrinsic value because its simply more practical for society to collectively hallucinate that it’s valuable, because it allows for more trade. And at the same time, its deflationary, causing that collectively hallucinated value to increase over time. The only case in which Bitcoin could ever fall to zero would be in a 51% attack if the attacker chose to double spend a ton of coins, hyperinflation the currency - but that would never happen, because it would be super expensive, and because its not in the attackers economic interest, so it makes sense to rule out that scenario. This is arguably less likely than nuclear war.